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A Florida House committee has revamped legislation that would have scrapped a tax break for insurers that amounts to $220 million annually. "We feel that taxing job creators is not necessarily the answer to Florida's future," said House Speaker-designate Steve Crisafulli, who sponsored the new version of the bill.

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Federal officials' decision on whether the Boston Marathon bombing was an act of terrorism will affect whether businesses qualify to file insurance claims, industry experts say. Firms with no special insurance rider as required under the Terrorism Risk Insurance Act will be unable to pursue claims if the government declares the event a terrorist act, experts say. Until the decision is made, "insurers will proceed to adjust the claims and work with policyholders just as it would have been in a natural disaster of some sort," said Robert Hartwig, president of the Insurance Information Institute.

The Army Corps of Engineers would have to examine the nationwide economic costs and benefits of building new levees under a bill filed by Rep. Cedric Richmond, D-La. "To secure funding for flood protection in this tight fiscal climate, the Corps must understand how important Louisiana's most endangered communities are to the national economy," Richmond said in a statement.

Vermont officials and flooding victims want the Federal Emergency Management Agency to update the state's flood maps. While the maps reflect the risk of "flood inundation," property damage in Vermont is usually caused by "the power of the moving water, the power of the moving sediment and the culverts and roads and bridges and structures that are in the way," said Ned Swanberg, the state's flood-hazard-mapping coordinator. "These maps are out-of-date, and they're inaccurate," said Rep. Peter Welch, D-Vt. "So that when a flood occurs, if you're not designated in a flood zone, you are out of luck when it comes to FEMA aid."

Insurers have raised their IT budgets 6.3% this year, with up to 4.5% of direct premium allocated to IT initiatives, according to a Celent report. Policy-administration efforts are a priority for new-project resources, and insurers' interest in underwriting solutions is on the rise, the report said. "Insurers who view innovation as integral to their business are focused on creating the right organization for identifying and deploying innovative projects," many of which are "IT-led initiatives," said Celent's Chuck Johnston.

The board of directors of the Ohio Bureau of Workers' Compensation is considering a proposal seeking a 2.1% rate decrease. The proposal, which is expected to save employers $29 million in the coming year, would take effect in July.